SAP FICO Interview Questions and Answers

SAP FICO Interview Questions 

Q1) Why do we use SAP FI?

Q2) What is  SAP FICO?

Ans: SAP FICO stays for FI ( Financial Accounting) and CO (controlling). In SAP FICO, SAP FI take ponders accounting, the course of action of cash related enunciations, survey figurings et cetera, while SAP CO take contemplations of burying orders, cost sheet, stock sheet, cost assignments et cetera. The item stores data and besides forms them and recoups the result in light of the present publicizing circumstance. SAP FICO suspects data lost and besides does the affirmation and reporting of data.

Q3) What are alternate modules to which 'Budgetary Accounting' is incorporated?

Ans: Alternate modules to which 'Budgetary Accounting' is incorporated are

• Distribution and Sales
• Material Management
• Human Resource
• Production Planning
• Controlling of money related exchange

Q4) What are the hierarchical components of SAP FI?

Ans: The authoritative components of SAP FI:

• Company Code
• Business Area
• Functional Area 
• Chart of Account

Q5) What is the factual inner request?

Ans: Measurable inward requests are cost objects used for announcing and examination. It must be presented with a genuine question, ex: a cost focus.

Q6) Define a one-time seller?

Ans: In specific organizations, particularly the one managing high money exchanges, it isn't common sense to make new ace records for each seller exchanging accomplice. One time seller permits a spurious merchant code must use on receipt passage and the data which is generally put away in the merchant ace.

Q7) What is the credit control area in SAP?

Ans: To save your association from the threat of loathsome commitments and diverse noteworthy receivable, you can set a sound representative for limit for your customer by using credit-control an area in SAP. With the help of SAP, you can hinder the transports to your customer from the perspective of beyond what many would consider possible and the records receivable change in their record which is kept up by you.

Q8) Define the credit-control region in SAP?

Ans: Resistant your organization from the danger of terrible obligations and different remarkable receivables, you can set credit to restrict for your client by utilizing credit control territory in SAP. With the assistance of SAP, you can obstruct the conveyances to your client in view of as far as possible and the records receivable adjust in their record which is kept up by you.

Q9) Define the short-end financial year?

Ans: The short-end financial year comes about when you change from an ordinary monetary year to a non-date-book monetary year, or another path around. This sort of advance happens when an undertaking turns out to be a piece of another co-corporate gathering.

Q10) Define Esteem Field in CO-PA?

Ans: Esteem fields are number or esteem related fields in gainfulness examination, for example, amount, deal income, rebate esteem, and so forth.

Q11) What is the use of Account Receivables in FI?

Ans: SAP FI Accounts Receivable segment records and oversees bookkeeping information of all clients. It is additionally a necessary piece of offer administration.

All postings in Accounts Receivable are likewise recorded straightforwardly in General Ledger. Distinctive G/L accounts are refreshed relying upon the exchange required (for instance, receivables, initial installments, and bills of trade).

Q12) What is the use of the FI-Asset Accounting component?

Q13) How would you perform a Profitability investigation in SAP CO? What are the distinctive sorts of gainfulness investigation?

Ans: SAP CO-PA is utilized to break down the market fragments delegated items, clients, deals zone, business region, and so forth.

SAP CO Profitability Analysis (CO-PA) is utilized for the assessment of Market portions, which is grouped by −

items, clients, and requests

• or on the other hand any mix of these
• or on the other hand Strategic specialty units, for example, deals associations
• or then again business zones, with reference to the organization's benefit
• or then again commitment edge

There are two kinds of Profitability Analysis are upheld

• Costing-based
• Record based

Costing-based Profitability Analysis:

It is utilized to assemble the expenses and incomes according to the esteem fields. It is utilized to guarantee that you access consistently to a total, here, and now gainfulness report.

Record-based Profitability Analysis:

It is utilized to give you a productivity report that is for all time accommodated with budgetary bookkeeping.

It is for the most part utilized for getting data identified with deals, advertising, item administration, and corporate arranging offices to help inward bookkeeping and basic leadership.

Q14) Define neighborhood and parallel money in Sap?

Ans: Every Organization code consists of 2 extra monetary standards, cash entered into organization code, and notwithstanding the organization code. The 2 extra monetary forms are called parallel monetary forms and cash entered in organization code is called a neighborhood. The parallel standards would be HARD CURRENCY and GROUP CURRENCY.

Q15) Where will you use the interior request?